19 November 2011

Method of Distributing Items Between Several Groups

each group has an 'item fund'. the amount available for each purchase is a set proportion of the total current funds, which can be changed. the history of contributions and deductions can be accessed. payments are made to groups. a group can consist of a single individual.

1) a member of a group (problem, inflation due to lack of defined exit of cash from bidding circulation regardless of whether bids can be lowered or contribution varies on item type)

1) make cost equal to benefit, so net change is zero for everyone, then decide winner

single bid
announce highest, no name
option to match
lower initial bids have smaller chance to win RNG
distribute costs to group?

depends on how groups are viewed, complexity costs, ...

method of determining value of an item. number of bidders, size of bids, all might not be accurate. largest problem is advantage of late response. should be a way for an individual to 'win' regardless of collaboration by a majority of participants on most items. if value is accurately determined for usable items, lack of accurate measure of value for other items is not a problem. standard bidding process does not equally distribute risk to all participants in case of collaboration, since value is not properly measured unless a non-collaborator accepts risk by revealing their own value for an item.

consequently, there is a decrease in benefit from collaboration by including a penalty for underestimating value, in all cases where the top bid is lower than the true value for a collaborating player.


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